This stock has been trading at levels which were dominant majorly last year. From the start of this year it had been very bullish till last month from where the stock is just searching for the bottom of the bearish run. This is a bit aggressive buy since we yet don’t have an established bull run. Yes, we do have a well established bear trend that is evident on the charts.
Having said that, if we enter the stock 255, then we can expect the stock to run towards 290-295 and then further to 305-310. Keep a stoploss of 248 though. Like I always say, DO NOT forget the stoploss, especially when we are entering at the plausible bottom of a bearish trend.
No comments:
Post a Comment